Hovnanian Enterprises Inc (NYSE:HOV) Stock Holdings Decreased by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in Hovnanian Enterprises Inc (NYSE:HOV) by 28.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 12,871 shares of the construction company’s stock after selling 5,083 shares during the period. Teacher Retirement System of Texas owned 0.22% of Hovnanian Enterprises worth $1,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV bought a new stake in shares of Hovnanian Enterprises in the 1st quarter worth about $80,000. Exchange Traded Concepts LLC increased its position in shares of Hovnanian Enterprises by 10.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,350 shares of the construction company’s stock worth $246,000 after purchasing an additional 215 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Hovnanian Enterprises by 26.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 40,423 shares of the construction company’s stock worth $4,233,000 after purchasing an additional 8,388 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Hovnanian Enterprises by 1,655.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,018 shares of the construction company’s stock worth $107,000 after purchasing an additional 960 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Hovnanian Enterprises by 46.5% in the 1st quarter. Farther Finance Advisors LLC now owns 2,913 shares of the construction company’s stock worth $305,000 after purchasing an additional 925 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

Hovnanian Enterprises Price Performance

Shares of NYSE:HOV opened at $119.73 on Friday. The company has a quick ratio of 0.28, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. Hovnanian Enterprises Inc has a fifty-two week low of $81.15 and a fifty-two week high of $240.34. The firm has a 50-day simple moving average of $101.68 and a 200 day simple moving average of $110.32. The company has a market cap of $708.81 million, a PE ratio of 4.19 and a beta of 2.13.

Hovnanian Enterprises (NYSE:HOV) last announced its quarterly earnings data on Tuesday, May 20th. The construction company reported $2.43 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.02). Hovnanian Enterprises had a net margin of 7.03% and a return on equity of 33.18%. The business had revenue of $686.47 million for the quarter, compared to the consensus estimate of $733.20 million. The firm’s revenue was down 3.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HOV shares. Wedbush reissued a “neutral” rating and issued a $120.00 target price on shares of Hovnanian Enterprises in a research report on Wednesday, June 11th. Wall Street Zen downgraded shares of Hovnanian Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st.

Insider Buying and Selling at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 5,500 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $107.12, for a total transaction of $589,160.00. Following the completion of the sale, the director owned 5,338 shares of the company’s stock, valued at $571,806.56. This represents a 50.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.77% of the stock is currently owned by corporate insiders.

Hovnanian Enterprises Company Profile

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.